Have we started wooing the Angolans yet? Angola’s $5 billion sovereign wealth fund, Africa’s second-largest oil producer, is starting investments in hotels and commercial infrastructure in sub-Saharan Africa. The fund, based in Luanda, may invest in 50 sub-Saharan African hotels over three years, including in its home country. In addition to the hotel fund, it is also setting up an infrastructure fund that will participate in projects including ports, airports and power plants. The two-year-old sovereign wealth fund is tapping into the shortage of business hotels and infrastructure in the continent rich in natural resources to boost returns from its global fixed-income and cash holdings. It plans to allocate half of its initial $5 billion to alternative investments including hospitality, infrastructure, agriculture and mining in the first two years. Factiva: The Chairman of the fund is Jose Filomeno dos Santos, the 36-year-old eldest son of the nation’s President Jose Eduardo dos Santos.
Posted on: Wed, 23 Apr 2014 17:34:43 +0000
Trending Topics
Recently Viewed Topics
© 2015